What does the Waiver of Cost of Insurance provision cover?

The Waiver of Cost of Insurance provision is designed to help policyholders maintain their life insurance coverage during periods of disability. When this provision is in effect, the insurance company waives the cost of insurance charges, ensuring that the policyholder does not have to make premium payments while they are unable to work due to a disability. This provides significant financial relief and ensures that the policyholder's coverage remains active despite their inability to pay premiums.

This provision is particularly valuable as it allows individuals to focus on their recovery without the added stress of having to manage premium payments. It is important for policyholders to understand the criteria and duration of the waiver, as it typically applies only under specific conditions outlined in the policy. Thus, the focus of the Waiver of Cost of Insurance provision is squarely on supporting the policyholder during times of financial hardship due to disability.